obama/pelosit/reid policies making things worse

• QuakerOats

  http://finance.yahoo.com/news/Mortgage-delinquencies-apf-3683370452.html?x=0&sec=topStories&pos=main&asset=&ccode=
  
  The anti-business, anti-investment, anti-incentive, anti-growth, anti-job, anti-private sector policies of the obama/pelosi/reid triumverate must end.
  
  November cannot arrive soon enough.
• believer

  

  
• ptown_trojans_1

  

  I didn't know it was only their fault?
• Manhattan Buckeye

  ptown_trojans_1 wrote: I didn't know it was only their fault?

  Probably not but they are in charge. If a coach takes over the Detroit Lions, and goes 0-32 for the first two years how much support will they have from their fanbase if they blame the prior coaching staff?
  
  We're closing in on 0-32. I don't want to see a double dip recession, but this stuff isn't looking good. Foreclosures have hardly waned, unemployment is still through the roof and even the markets have subsided a bit notwithstanding the federal money dump - oh, and we have record deficits.
• believer

  

  ptown_trojans_1 wrote: I didn't know it was only their fault?

  It's Bush's fault.
• redstreak one

  

  which Bush? LOL I blame Reagan!
• QuakerOats

  "WASHINGTON (AP) -- The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. The big surge was a setback to hopes that layoffs were declining."
  
  http://finance.yahoo.com/news/Jobless-claims-rise-by-apf-1593792560.html?x=0&sec=topStories&pos=main&asset=&ccode=
  
  More ............................ change we can believe in .........................
• Manhattan Buckeye

  Yes, QO, I saw that report as well. Stocks are down early and this may continue into tomorrow. I pulled out last week from most of our long positions, my father-in-law pulled out last month. I don't like to be wrong, but I hope I'm wrong on this, but the double dip is very, very likely.
• QuakerOats

  Manhattan Buckeye wrote: Yes, QO, I saw that report as well. Stocks are down early and this may continue into tomorrow. I pulled out last week from most of our long positions, my father-in-law pulled out last month. I don't like to be wrong, but I hope I'm wrong on this, but the double dip is very, very likely.

  I hear you. The sovereign debt issues coupled with the uncertainty created by the garbage coming out of DC is keeping employers in survival mode only, with no investment and no hiring. And yes, it could get worse before it gets better, but it can only get better if we get rid of the radicals in government.
• Manhattan Buckeye

  Today is not going to be a good day.
• QuakerOats

  No it isn't. Minus another 252 points at this time.
  
  But hey, let's ram through some more disastrous legislation and see what happens next.
• IggyPride00

  

  Good for Germany right now, they seem to be the only country without a set of politicians not bought and paid for by the major banks and financial services industry.
  
  There is no need to ban short selling as it serves a useful price discovery function in the market, but they were 100% correct in banning naked shorting as well as buying naked CDS protection.
  
  Wallstreet is having a fit like a spoiled child, but you should have to have an insurable interest to be able to get CDS protection. In every other aspect of life that is how insurance works, it should be no different in the financial services sector.
  
  Otherwise what you get is what we have now, which is firms loading up on credit protection with the sole purpose of causing a credit event so they can cash in. It just ratchets up volatility beyond a point in which it would otherwise be.
• IggyPride00

  

  Oil is down almost $25 now in less than a month if I am not mistaken with zero change in the fundamental supply/demand picture. It is the poster child for how broken this market it. You'd have better odds going to Vegas right now. That is unless you're Goldman/J.P or any of the other firms that went 63/63 last quarter by never having a losing trading day, something that had never happened in the 200+ year history of the NYSE. The mathmatical probability of one firm pulling it off was worse than winning the lottery. Multpile firms doing it had like 25 zeroes to start the number. Basically it is impossible. That should be all the proof one needs to know the market is rigged.
  
  Hopefully people aren't taking too big of a bath this week as there is a good chance today will get progressively more brutal.
• Little Danny

  

  redstreak one wrote: which Bush? LOL I blame Reagan!

  Jenna. Ever since she joined the Today Show the country has gone to hell in a handbasket.
  
  
• QuakerOats

  IggyPride00 wrote: Good for Germany right now, they seem to be the only country without a set of politicians not bought and paid for by the major banks and financial services industry.
  
  There is no need to ban short selling as it serves a useful price discovery function in the market, but they were 100% correct in banning naked shorting as well as buying naked CDS protection.
  
  Wallstreet is having a fit like a spoiled child, but you should have to have an insurable interest to be able to get CDS protection. In every other aspect of life that is how insurance works, it should be no different in the financial services sector.
  
  Otherwise what you get is what we have now, which is firms loading up on credit protection with the sole purpose of causing a credit event so they can cash in. It just ratchets up volatility beyond a point in which it would otherwise be.

  
  Agreed. And naked shorters ought to be deposited into the ocean wearing cement boots.
• Manhattan Buckeye

  Market ended badly today, tomorrow will be very, very interesting.